* Proven, probable reserves in Kazakhstan increase 400 pct
* Shares up 3 pct in early trade
(In U.S. dollars unless noted)
TORONTO Feb 1 Uranium One Inc UUU.TO
announced reserve estimates for its South Inkai and Karatau
uranium mines in Kazakhstan on Monday as well as completions of
acquisitions of the Christensen Ranch and Irigaray facilities
Uranium One, which is based in Vancouver, British Columbia,
but is focused in Kazakhstan, said that with the addition of
reserves at South Inkai and Karatau, its total proven and
probable reserves in Kazakhstan increased by 400 percent to
47.8 million pounds of uranium.
The uranium producer, which is partly owned by Russian
state-owned nuclear giant Rosatom, said it has closed its
acquisitions of Christensen Ranch and Irigaray for $35 million
in cash, effective Jan. 25.
The company said it now has a fully licensed and permitted
processing facility, which will form the basis of its
production plans in the Powder River Basin of Wyoming.
Uranium One shares were up 3 percent at C$3.41 in early
trade on the Toronto Stock Exchange on Monday.
(Reporting by Euan Rocha; editing by Peter Galloway)